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tv   After the Bell  FOX Business  November 12, 2013 4:00pm-5:01pm EST

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>> as we look at the traffic on wall street, it has been a mixed message, when you look at certain spots like fedex, individual stocks do quite well. liz: here we go with the nasdaq. liz: american airlines parent and u.s. airways of greece to settlement with the department of justice that were finally allowing the merger to go ahead. finally let this thing go through. david: against those first mergers. talking about that later on.
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liz: shares of the largest u.s. some builders have a big punch. revenue surged 40%. that is a real number. david: and as part of the third quarter results. adding 305,000 drivers. liz: that new ipad many. does it really engender excitement? david: and they have cut the price. the wireless contract.
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a new cheaper from tomorrow. "after the bell" starts right now. ♪ liz: that comes in a combination of 200 plus. so when apple comes up with four different colors. david: i think it is priced in half. that is dramatic. liz: this breakdown the day's action. warren financial-services chief investment officer who will tell us why he thinks stocks are ready to hit print is. and joining us from the pits of the cme. the price action today was interesting. look. in nasdaq appears, as these numbers settled, to be the one index above tired, but on a day where we saw record highs once again, at least with the dow jones industrials, tiny pullback is nothing to be too concerned about plexus' market wants to buy every pull back. today we got just that.
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the nasdaq is giving as a precursor of what i would look for more extension this week. david: i am wondering about the next big move. we have not seen one in a couple of days. will it be up or down? >> hard to guess on the short term, but think there are a series of events going on around the world that will allow the united states to pick up a little bit of momentum here. maybe our trading partners, andy be starting to turn which could really help. liz: in yet another deceleration in the market.
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>> all the way through the beginning of the new year intends to be the best time of the year to invest in stocks. but doesn't seem to be a reason why. the growth inhibitor and the stars to cut into profit in a serious way. did not pop the ball today. they were up a couple of basis points. that is said. does that surprise? >> that this kind of funny when you said that. the first cause for alarm, but we have been stuck in this range for quite awhile. we are clearly nowhere near that level. the fed tapir will hit the emerging markets first which would be the first thing. liz: then you have a dollar moving i don't want to say erratically, but when you see it at a one month high against the japanese yen and certainly all
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kinds of issues in the united kingdom that gyrate the pound sterling to my don't want people's eyes glazing over, but when the dollar gets stronger, sometimes that hurts big u.s.-based companies that have multinational businesses. >> right around 2:00 a.m. central was when i saw the news. all the way back into the opening. pulled off even further. now we are hitting midrange. has been one great range. particular the euros still looks healthy. 134. i would not be surprised if we make another trend. david: let's give specific. talk about stocks. i am looking at the notes that you sent us early this morning, lest our viewers think it was just because of today's recent announcement. you were recommending u.s. airways before the announcement came in that he merger would go through. is it still a buy?
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>> i think it is. u.s. terrorism stemming at a bankruptcy and there are so many good things to like what the airline industry right now. of the publicity than the number of years. oil prices are coming down. he was getting cheaper, about 50 percent of the cost of every seat on an airline to move those people from point a to be. you know, you have the merger's going through now. foor major airlines in the united states. that is down from maybe ten or 15 major airlines ten years ago. so, you know, there is less competition that is going on in the united states. every seat is filled. every single seat is filled. a lot of good things going on in the airline industry. liz: all you have to do is get on an airline and everyone is pulling up the smart phone and tablet. there's a lot going on where people are now using that
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opportunity to be anywhere with anything that they need. you like a company that is very much interest in mcleod committed data, although it had a beautiful run up already this year. >> it has had a really nice run, and it continues. you know, it is breaking new ground. it is setting, you know, new standards, moving technology into the cloud, due in the clinical trials in the cloud. it is lowering costs. most importantly, for investors, it is going. growth is the magic elixir that wall street is absolutely loves. david: that stock, by the way. it is of 4705%. i want to put a fine point on that. in the past two years the stock is headed tremendous run-up. one thing i am wondering about his natural gas. as we look at oil coming down, is there any way the natural gas and uses to make a play for the stock and say, you know, with all the volatility to my notice
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coming down, but maybe it's time for natural gas to make its move. what you think? >> it is been teaching for too long and it has been an impressive move. but in particular in the energy sector a very successful post following trade has been a short crude and -- for gas. as we get into winter, at least some snow across the country yesterday, i'm telling you right now, natural gas will continue to be on the tip of the time. that actually is one heck of a spread to be looking at. liz: we will company jersey with flurries. now, i don't want to see this, but i think that that may have to use the price a little bit. going back to you come in the end, do you feel that by year-end people will really start to wonder whether the rally over several years is now stretched that you can start seeing little weak points, perhaps? >> it is going to be dated driven. we will need a pickup in the united states and are to keep this really going.
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this anemic growth that we have been dealing with for the past couple of years is not going to cut it as the market continues to move fire in the federal reserve starts pulling back on quantitative easing. we can't just have a continue limping along of anemic growth. the united states will need to pick up, and that is where, you know, things can get better for us. liz: just listen to the op-ed and a "wall street journal". he is concerned about it. always we thank you. you will check back in. david: we will go back to find out what effect this will have on energy prices tomorrow. liz: also, too big to fail. are the good times over for the biggest banks? we are giving you the investors, some of the likely winners and, of course, losers if banks are
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restructured. they're forced to be restructured. liz: also, our facebook question, about the amr and u.s. airways merger. after they reach a deal with regulators will the merger reduce competition and make airline travel more expensive? blog don to facebook talk com / "after the bell." what do you think? we want to know. ♪ [ male announcer ] what if a small company became big business overnight?
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i don't like guesses with my business, andefinitely not with our health. innovations that work for you. that's health in numbers. unitedhealthcare. ♪ liz: stocks falling a bit. led by the financial sector. it said that to nicole petallides on the floor of the new york stock exchange with more on the finances. >> reporter: that's right. we saw financial selling off. you on many of these names because they are in many of the indices, the s&p 500. if you on that. what you saw here was the financial fallen off of the worst performing sectors of the ten that we follow each state. bank of america, goldman, about half a percent. morgan stanley was down. down over 1%. a lot of this may be blonde related. we saw these. utilities, for example, really a
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defensive play. the bond yield improves. there was talk that people might be exiting out of the utilities, moving into treasurys. this may be a fed tapering, bond related. in the meantime, markets did not do that much. dow was down 1/4 of 1%. the financials and utilities with a number one in two worst groups. back to you. liz: kknd of a pause. we will be talking about her coming up. you don't want to miss that. thanks. liz: prices slipping for both oil and gold, in part due to the possibility of the federal reserve may be beginning to taper as early as next month. let's head back to the cme. our own sanders. >> reporter: a gold and silver prices, the worst performers today. back to my silver topping the list of the worst performer. go down a full percent. continuing to fall in late trading down 13.
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as you said directly, this is speculation that if we continue to get better than expected reports, the fed might be more willing to curb its stimulus program by the end of the year. all of those commodity place, definitely on the table. maybe talking about the weather. natural-gas prices might be spiking on more demand, but the crude oil prices are down $2 right now. job loss $903 per barrel for the first time since june. there are a lot -- a lot of bearish momentum. liz: about 30 seconds to chime in, but oil and $91, $91 is one of the key points for oil. >> 9150 a spin my pivot for quite a while. as we get there there will be a lot built into the market to beat you will see it run through those levels which is why if it does bounce, do not think that it will continue to rally. as he said so well, a couple of spreads that i have on right now.
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one of them as long afghans and short crude. the other, as you mentioned can assure the s&p and long the nasdaq its does not have a financial waiting to it. they will perform well over the next couple of weeks, at least until we get into the next payroll number. liz: good to see you. at the ready. sandra as well. we appreciate it. david: well the federal reserve speak with just one voice? the next chairman, lot of talk in and out of school with the fed appeared particularly today. fed watcher, chief economic correspondent for the "wall street journal" will be talking about how she might change the management of the fed. liz: also, there are the biggest power players on wall street. can they deflect calls to break up their businesses? yes, banks. this is a huge question for investors. it could be a possibility. everyone is worried. we have some answers.
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♪ liz: the financial sector. who among us does not own at least one bank? the best performing sector rising 25 map%, outpacing the overall market's, really done well, cut could restructuring boosts performance are hurt them? joining us now, senior vp, closer look at all of these things. you force a bank to break off
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pieces command i am just wondering if it destabilizes or strengthens it. >> again, i think what i am suggesting is that these banks are too big to really grown up, too complicated to really understand for most people, some multiples are low. by breaking them up and send the pieces report put -- are there any particular is that you feel are primed to release are breaking off a few leinster in there? >> i think that if you look at the top fiv, even 15, they are all primed for that. obviously the bigger the better. if you look at the top three or four banks, the last two years they have not grown assets, loans, they have grown deposits because people wanted to put money there and they have ordered the cash. generally these companies need to be complicate to give multiples of.
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this is one of the ways that they will do it i think. liz: because we don't know what the reaction would be is a this is safer bet to go into the regional or smaller banks? >> the smaller ones, surprisingly or maybe not so have much higher valuations. trading at two times book. eight, nine, ten times earnings. if you get into the company said two or 3 billion in the treated twice that. the market has already said that if you take the traditional bank and break it up you would get twice the valuation of the current securities. liz: which of your biggest positions? we just want people to tell us where they're putting their money, and that we we know what you believe in the most. stir with your biggest positions >> i tried to take the approach because i don't know which companies are going to break out of their current sort of stagnation of sitting there and doing nothing. i like morgan stanley, goldman.
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all these names, the question really is and on its portfolio of these names and wedding time play itself out and see which companies break out first. liz: and dissing you on 20 the 30 different banks, right? >> yes to my own roughly 30 names of a large cap fund. liz: 30 names. is that the best way? etf has really revolutionize the way people invest because they don't want to put all the money and one single man because that's very dangerous. the etf model or your funding model is an opportunity to have exposure of that. >> well, i think the value of a portfolio comes and goes. right now it's a good time that a portfolio of names. when the group is on the performing it is very easy for portfolio managers to step out of the names and not take that down side hit. if you go back to my had a 60% cash in my portfolio. i saw what was happening. of course car it was easy to outperform the index fund.
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liz: j.p. morgan is in in the you like. you mentioned city, j.p. morgan, goldman. it's moving just slightly lower today, the same. a corot% from but stressed out over time there is real opportunity. management, the visionary leaders, are you comfortable with the management structure that if one or two of these john and decide to move on, retired tamales, can these banks still continue to innovate the way they have? >> well, that is why you come to work every day. you watch and see what they do. clearly if somebody came and commit could be better or worse pbgc that happening a lot. microsoft. a good or bad thing. so i think that is just part of the business of being in business. i think that the -- this is what i'm really talking about is a 3-5 year cycle and maybe longer before these and -- companies rationalize what it will be. liz: to you appear tow into
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european banks? >> well, i have lost enough money and made enough money in american stocks. i don't need to go overseas and try to do it. is difficult because the accounting is different, the regulatory framework and although it is similar than it used to be as different. the sentiment indicators are in a figure out. and obviously your plan with currencies that people worry about. so i think there is enough mistaken opportunity. a couple thousand. on just a their and live and die at home. liz: you just don't know the systemic risks of relationships of some of those banks. okay. you're staying away from the czech republic. good to see you. thank you so much. we will put your picks up on our facebook page. we appreciate you coming on. david: great advice. it is the changing of a guard at the federal reserve. it is coming at a time when there's a lot of sniping by fed
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members out of school. did you notice? so, and janet yellen silence the fed dissenters' if confirmed as chairman? we will discuss that. and u.s. markets just keep going up, but is now the time to by china? we will be talking to one investor who thinks investors should think about a very hard. liz: in you really love, what would you do?" ♪ [ woman ] i'd be a writer. [ man i'd be a baker. [ woman ] i wanna be a pie maker. man ] i wanna be a pilot. [ woman ] i'd be an architect. what if i told you someone could pay you and what if that person were you? ♪ when you think about it, isn't that what retirement should be, paying ourselves do what we love? ♪
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liz: time for a look at today's market drivers. it was a mixed day on wall street. mixed. you could call it, nasdaq, tiny, tiny gain. transports only major index posting gains. six out of 10 s&p sectors closed lower. of the financial, utilities, energy led today's decline. precious metal gold closed the day down .8 of a percent at $1270 a troy ounce. the energy sector fell on reserves that the federal reserve could begin tapering back bond-buying purchases sooner than later. oil fell below $93 a barrel, intraday trading first time in four 1/2 months. of the look out below! some trade remembers saying, david. ashley: well the federal reserve used to be defined by one voice,
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the chairman's. during the bernanke era the voices of other fed members have become as market-moving as comments from the chairman himself. will janet yellen rein it all in? or will increasingly fractious quality of the fed discussions bleed out into a more vulnerable market? joining us jon hilsenrath, "wall street journal" chief congressional correspondent. this is about a article i thought was fascinateing. >> a summary of the dilemma she faces you just gave. ashley: thank you. but what we saw today was another example of exactly what you were right writing about. >> exactly. ashley: first of all the dallas fed chair, of course he is a hawk, a deficit hawk, richard fisher, who said that the portfolio the fed has become bloated and then we had a comeback by the minute nap police fed president who said pretty much the opposite. will it stop or continue under yellen? >> the middle of the the late
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ant at that fed president said maybe they will be taper in december and or maybe they won't. easy to understand why people get confused. the challenge for yellen the genie is out of the bottle and it is very hard to put it back in. these regional fed bank presidents are used to being able to go out and having their say. i think, it would really hurt morale there if she came along and said hey you have to stop giving speeches and saying what you believe. i think she could try to do things to bring a little bit more discipline to the process. and also some things maybe to try to give herself a little bit more volume.3 to kind of drown them out. for instance, the fed has quarterly press conferences. she might start speaking out more often of the there was a very weird silence summer bernanke decided not to speak at jackson hole. the fed went months without
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anyone hering from the chairman. and then that vacuum was filled by other regional bank presidents. maybe she speaks more often. that ends up getting more attention. >> quantity over quality. i'm wondering though, i wouldn't say she is a timid person but she doesn't seem to be a sort of greensppn loud mouth, right? >> well the thing, there's a big difference between her and greenspan which is that greenspan kind of reveled in his ability to confuse people. he said at times that he was trying to be as obscure as possible. yellen really wants people to understand where she stands. i wouldn't say she is a loud mouth. she is pretty soft-spoken lady but she is trying to be pretty dirrct and pretty clear about where she stands on a lot of issues. of course we're going to get a chance to hear some of that this week during her confirmation hearings are on thursday. we'll see how plainspoken she is. ashley: jon, let's get right to it and question whether momentum
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is working towards tapering or away from it. seems to me, of course i have affinity for richard fisher but does seem to me the tide is sort of moving in that direction of taper egg. what does it seem like to you? >> i mean, seems like it. the jobs numbers on friday, they were messy because of the government shutdown and the statistical agencies were shut down but there were some nuggets in there that were pretty positive. the, the government's measures of employment, of hiring in august and september got revised up. so it looks like the private sector has been hiring more aggressively over the last few months, than we realized. and that could push the fed towards doing this. i mean i think we've got another close call decision coming up at their next meeting in december. and then the next jobs report will be really important on that front. ashley: of course. you would expect richard fisher to say it is time to titan. >> yes. ashley: you're even hearing it
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from larry summers. larry was speaks out at imf conference. raised possibility after time, quote, zero nominal interest rate is cron anything and systemic inhibitor of economic activity some that's kind of interesting coming from larry summers. >> he is arguing fiscal stimulus for the fed to get out of the way. david. >> he wants the government to do more spending than he is right now. david would he have any influence on decisions of people like yellen 6. >> she is listening to her old advisor from the grave, james tobin from yale, who believed in pretty aggressive government intervention to address
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unemployment. david: will be very interesting to see what happens with her. jon hilsenrath from the "wall street journal." great to see you. >> thanks for having me. david: appreciate it. liz: that is why he is the expert. he knows all the insight, reat reporter. >> indeed. china's trying to accelerate efforts to take over from the u.s. as the world's largest economy. how will they do it and at what cost? david: time for the u.s. investors to play the chinese market. we heard our analyst talk about how that could be the next big thing. how to ride china's wave if you want when we come right back. ♪ thrusters at 30%! i can't get her to warp.
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bny mellon combines investment management & investment giving us unique insights which help us attract the instry's brightest minds who create powerful strategies for a country's investments which are used to build new schools to build more bright minds. insted in the world. bny mellon. liz: china's communist leaders todaa unveiled a new blueprint for economic reform. it appears to be paying off already. china's stocks rose the most in
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two weeks and all that could possibly have a huge impact on u.s. investors. david: our own jo ling kent has been following all this she joins us now with more. jo? >> hey, guys this meeting with president she xinping, was the first possibility for the chinese economy. stocks did well, we got a lengthy communique light on specifics and i went through the document and found only a couple faint clues investors should be watching. first on the economic front beijing said rebalancing the government's role is priority. saying, quote, the key issue is handling the relationship between the government and the market allowing the market to play a decisive role in allocating resources, unquote. politburo said the deadline to be 2020. economists got confused later on in the document when the part emphasized keepingenterprises ig role. we're getting mixed messages of the as for land reform, beijing
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called for giving farmers more rights and access to public services which is a good news for consumption-based economy and migration to cities and higher consumption across the board. what we were really missing is substance on major issues. we were talking about yesterday on this show a signal on loosening beijing control on interest rates. what they will do about capital inflows and outflows. household registration and liz and dave, we got nothing on those fronts aside from the usual platitudes. liz: jo, i, here's the question, when you lay that all out it sounds very, very focus and fascinating, but what does it mean? what does it mean for american investors who want to be in chinese companies. >> we do expect a fully document in the next couple days. that said, having watched president she xinping, and how the economy is growing at slower rate that reform is as beijing
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promotes consumption to maintain the economy it needs to maintain stability. any up sword shift in consumption, liz, good news for people that invest in chinese brand and do big business in china. liz: interesting. david: great stuff, jo, thank you very much. if you think now is the time to buy in china, how should investors play the chiiese market? liz: joining us someone who thinks he knows. investorplace.com jeff reaves. before we get to the names what was your criteria? >> the biggest factor is the growth story of china but i also think it's a valuation play. i don't think it's a surprise to anybody that china has taken a spill in the last couple years. emerging markets have been out of favor. u.s. stocks have been in favor. it is important to best investments are not just growing but investment that is are fairly priced and now there is a lost investment in china is good
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deal if you look at metrics of price to book and price to earnings. in the united states facebook and tesla had the big runs up and rolled back a little. if you worry america is a little bit overbought. i warn it is not just a growth story in china, it's a valuation story. david: jeff, when you use the word metrics, what metrics can you trust in china? we have our problems with some rosy predictions but they have controls over the information that are worthy of the communist party. so can you trust their stats? >> well, there's two ways to look at it. number one is, you can't, flat-out, you just can't. china is not the same as america but the flipside of that is, and i don't want to moralize it so i will say it flat. david: sure. >> when china has the blessing of beijing behind a company like a big state-owned oil company like sin know pack and cnooc. when beijing likes you you are not going anywhere. we can moralize what it is like to have government blessing. but state-run enterprise that is
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have blessing of pooiticians in beijing there is no better blessing for a company, no barrier to the competition than having the government in your pocket. that is one way to look at it too. we can moralize capitalism but that is the reality of it. liz: let's forget moralizing get to stock names because people want to make money. >> sure. liz: they do business in china and they are chinese names first. doesn't surprise me baidu is something you're lookiig at but what else? >> again, if looking for stocks that have a pretty stable business right now and decent growth potential i think baidu is good one. many people call it the google of china. google cede ad lot of ground in china because they don't want to play by beijing's rules. buy dude -- baidu is there as the company gets more and more wired. there is big potential all the time. i like energy broadly. state-run companies like sin any pack and cnooc. if you look at company like
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exxon the oil stocks in china are trading much better evaluation. and it is the story the same everywhere. liz: how much of the government has a piece of those though? >> the government does, these are private companies that are still overseen by the government. so it is not like, not like obamacare or anything like that. these are companies run like companies, they have big government ownership and oversight. so it is important to know they have big trade partnerships. they operate in brazil. they don't operate only in a small part of china. they are almost multinational corporations but they have a big influence in beijing. david: you can invest in the general etfs, the exchange traded funds, that deal with china but more importantly you can invest in companies, u.s. companies or companies based in europe that focus a lot of attention on china, right? >> yeah. i mean, you know, it is a risk and reward scenario out there. if you want to buy individual chinese stocks, if china goes like bank buskers, that is
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best -- gangbusters but there is risk there. either divest in -- invest in diversified brands. yum! brands. kfc in china. big revenue growth for the company broadly. they do 50% of sales oversees. if you want a little bit of diversification, you can buy a u.s. domiciled company like yum, they play by sec rules not chinese rules. they have to make a ot of money in china. risks reward play, want a pure play on china you have to deal with the realities doing business there but a u.s. multinational is great way to get exposure to china by mitigating yoor risk. david: by the way the problem you still have you're stuck dealing with currency calculations play into the whole thing no matter what you do. some things you can't afford. jeff reeves, very good advice. we appreciate it. >> we have breaking news on starbucks which is falling in the after-market session. starbucks has concluded or
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finally wrapped up its package coffee dispute with kraft. starbucks according to an arbitrator concluded that kraft is indeed entitled to 2.23 billion in damages. here's the stock trading below its closing value in the after-market session. just important to note that this was a dispute that began regarding coffee distribution that they had. they have been fighting over this since 2010, david. david: they have indeed. by the way we're trying to get to see what kraft is doing after-hours as well. clearly starbucks is the loser after-hours right here but we will give you more information as we get it hire on fbn. liz: we have a winner! yeah, a winner in the fight for bragging rights for the tallest building in all of the united states. we'll tell you whether new york or chicago won. it's a big battle next! david: we have a story about, get this, a rabbi, a desk and nearly $100,000 in hard cash. we'll tell you about how they all fit together coming up on
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david: well the battle for tallest building in the nation
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coming to an end today with the new york's one world trade center taking the top spot. liz: back in june i had the opportunity to visit one world trade center. we went all the way up two different banks of elevators. tell you something, rick leventhal, who is there live with more on today's announcement. what was it that gaves the win? >> well first of all we already knew that chicago was the second city and new york was number one, right? this is just confirmation. but a very difficult decision for the council on tall buildings and your bab habitat which is the internationally recognized arbiter of building height. the question resolved basically around the very top of one world trade. is that an antenna or is that a architecturally significant spire on top of that building? well the council said it understood how symbolic the 1776 number was. the architects, builders wanted it to be 177tall.
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they knew how much emotion and history was wrapped up in the world trade center site. the council said the criteria was not changed. engineers, academics and architect that is make up the height committee carefully considered the aspect of this building. they ruled unanimously the structure is permanent. it is an art tech ral feature, the beacon light on top of the spire can be seen 50 miles away and recognizes the torch of the raised hand of laid by liberty across the water. >> the due diligence i did prior to the meeting was i had to make absolutely certain this building was 1776. it was shorter or somehow being measured improperly, that would have been, i mean we went to not been shy to say that. we have said that and gut-wrenching but we would revealed that. >> so one world trade, one world trade officially the tallest building in america, 1776 feet. number two, knocked down to
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number two is willis tower in chicago, formerly the sears tower still at 1450 feet. the mayor of chicago very outspoken and apparently not happy with this decision, quote, from the mayor, if it looks like an antenna, act the like an antenna it is an antenna. at the willis tower you have a panoramic view unmatched. you can't get a view like that from an antenna. well, mr. mayor, the council on tall buildings has spoken. the council on tall buildings is headquartered in chicago. they decided that the willis tower is number two. david: just a little sour grapes, a little sour grapes from chicago. by the way, rick, september 11, 2000 one, you were right in the think of things when the world trade center came down. you were literally there when that huge, huge mass of ash came towards you as the buildings collapsed. can you look down there, can you be down there without thinking of that moment? >> absolutely not. i think about that constantly.
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whenever i'm down here i get chills remembering those days, david. unlike many new yorkers, very tied to this site. there were dark days, weeks, months, years afterwards, to see this now it is truly remarkable site. it look a long time. memorial is fantastic. the bid something majestic. a lot of new yorkers are pleased that it got the official 1776 height. it may not have mat early ultimately whether it was 177or 1368. it is truly dramatic site. a lot of folks here are celebrating. >> you're recording of that day was epic and emotional and it was appropriate and it was gutsy. we thank rick, one of the best in the business. david: great, rick, to see rebirth of an area many people were given up on that awful day. >> absolutely. david: rick leventhal, good stuff. appreciate it. liz: beautiful building too. david: it really is. liz: a chance for to you
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with premium service like one of the best on-time delivery records and a low claims ratio, we do whatever it takes to make your business our business. od. helping the world keep promises. but it doesn't usually work that way with health care. with unitedhealthcare, i get information on quality rated doctors, treatment options and cost estimates, so we can ke better health decisions. that'sealth in nbers. unitedhealthcare. melissa: let's go off the desk. a connecticut rabbi returned, are you ready, $98,000 in cash he found hidden behind drawers
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of an office desk that he bought on craig's list. the rabbi discovered the money while dismantling the desk to move it through a narrow doorway. the desk's former owner told the rabbi put inheritance in the desk and forgot it was there. david: what an honest guy. congrats to him. also "off the desk", you want to live like a star? rent rihanna's pacific palisades residence for, wait for it, $65,000 a month. it's a deal when you consider this it will shoot up to $100,000 a month. and includes smart technology. the singer bought the home just over a year ago for a mere $12 million. liz: you rent to own? david: i don't know. too young. too young. liz: we're telling you it is earnings for cisco systems. the technology company, they make networking equipment highly dependent on the willingness of businesses to spend on that equipment but they also wire for
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wireless. cisco is expected to post earnings per share of 51 cents. revenue of $12.3 billion. david: number one thing to watch, comments from federal reserve chairman ben bernanke. will he move markets again? we'll see. >> have you heard about the three 20 somethings that built their own version of the obamacare website in three days. guess what? it works. they will tell us how they did what our government couldn't right now >> all right. television repairman. ultimate set of tools. i can fix it. melissa: don't you feel like this is what we're getting too with obama care? everyone and their mother thinks they have the answer. give three 20 somethings, three days and amissing what they can do. everyone is talking about the guys you're about to meet. they went off built their own

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